CBOE · 8-K · 20261030PR068432

Operating Margin Drivers

Cboe Global Markets, Inc. · 2026-10-30 · Importance 58 · Surprise 56

Third-quarter operating income increased 44% to $534.3 million, and operating margin rose 13.8 percentage points to 75.0%. The $71.5 million Cboe Australia divestiture gain contributed to reported operating income; adjusted operating income increased 29% to $508.2 million and adjusted operating margin improved 6.1 percentage points to 71.4%. Net revenue grew 18%, while adjusted operating expenses declined 3% to $204.0 million, supporting adjusted margin expansion.